CMHC: Canada’s very own ticking economic time bomb
Filed Under Main Content · Tagged: Assets, Banking System, Borrowers, Cmhc Canada, Disasters, Economic Time, Economy, Hiccup, International Banking, Investment Vehicles, Investors, Job Canada, Low Mortgage, Mortgage Rates, Mortgages, Ninja, Real Estate Market, Time Bomb
The Star- For the past few years, Canada has been basking in the glow of international economic praise.
Our banking system is the best in the world. There has been no need for government bailouts. True, we have recently been running large deficits. But they are manageable in terms of the size of our economy. Our dollar is strong. Investors want to invest in Canada. Best of all, our real estate market, with a short hiccup in late 2008 and early 2009, has been moving steadily upward. Historically low mortgage rates have made housing affordable to practically anyone wishing to purchase.
Not for us the housing disasters that have occurred practically everywhere in the world. No toxic investment paper, as was created in the U.S., by bundling mortgages into investment vehicles that had very poor underlying security. Not for us the “ninja” borrowers (no income, no job, no assets)…
CMHC: Canada’s very own ticking economic time bomb – thestar.com
AIG posts record $61.7B loss in Q4
Filed Under Main Content · Tagged: 7b, Aig, Assets, Commercial Mortgage Backed Securities, Credit Default Swaps, Gazette Montreal, Montreal Quebec, Mortgage Backed Securities, Q4
The Gazette (Montreal) – Quebec – AIG wrote down the value of key assets, including credit default swaps and commercial mortgage-backed securities, by $25.9 billion US and costs related to …
AIG posts record $61.7B loss in Q4
Building a firewall
Filed Under Main Content · Tagged: Assets, Canada, Column Detail, Firewall, Mortgage, Wellington Advertiser
Wellington Advertiser – Wellington,ON,Canada – That is all the holder’s assets could be seized to pay the mortgage. Somehow, we must devise a program to tackle the housing crisis, something that the US …
The Wellington Advertiser – Column Detail
Canada Cuts Interest Rates to a New Low – WSJ.com
Filed Under Main Content · Tagged: Assets, Banks, Europe Canada, Interest Rates, Mortgage, Nbsp, Peers, Plunge, Wall Street, Wall Street Journal, Wsj
Wall Street Journal – USA – … in part because its leading banks skipped the plunge into risky, mortgage-linked assets that hamstrung peers in the US and Europe. …
